(Reuters) -Plug Power Inc has signed a deal with Amazon.com Inc to supply liquid green hydrogen, the companies said on Thursday, sending the hydrogen fuel cell maker's shares up over 12% in early trade.
Green hydrogen is often touted as the future of energy, as the flexible and zero-emission fuel can be used for transportation and electricity generation.
Amazon said Plug Power will supply 10,950 tons of green hydrogen every year starting 2025 that it will use to replace grey hydrogen, diesel, and other fossil fuels. The companies, however, did not divulge the supply pricing specifics.
Grey hydrogen is made from natural gas, without the carbon sequestration, and makes up the bulk of the 90 million tonnes of hydrogen produced globally every year.
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